Maritime News

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US Sanctions COSCO Companies over Iran Trade

Posted On: 11-03-2020

The U.S. Department of the Treasury has sanctioned a total of six Chinese companies,including COSCO subsidiaries, over alleged breaches of U.S. sanctions on Iran. COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman ShipManagement Co. were determined by the Secretary of State to meet the criteria for the imposition of sanctions. It was ..readmore

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Sixteen UK Ports Receive Funds to Prepare for Brexit

Posted On: 11-03-2020

Sixteen ports across England will receive a share of a multi million funding pot to help their preparations for Brexit on October 31. The UK’s Department for Transport (DfT) revealed the successful bidders of the GBP 10 million (USD 12.34 million) Port Infrastructure Resilience and Connectivity (PIRC) competition, which offers ports up to GBP 1 million each for infra..readmore

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ESL Shipping Becomes Owner of Bulker Alppila

Posted On: 10-03-2020

Finland-based dry bulk shipping company ESLShipping, part of Aspo Group, has acquired bulk carrier Alppila from SEB Leasing.As explained, the acquisition was made in accordance with the terms and conditions of the lease agreement signed in 2011.The 20,499 dwt Alppila is a self-unloading bulk carrier specially built for Baltic Sea operations.The ship i..readmore

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PSA Makes First Foray into the US with Penn Terminals

Posted On: 10-03-2020

Singapore-based port operator PSA International has completed theacquisition of Penn Terminals from Macquarie Infrastructure Partners, following formal approval by the relevant regulatory authorities. Located on the Delaware River, United States, Penn is one of the best equipped, privately owned multipurpose marine terminals on the Eastern Coast of the U.S.,according to PSA. “This acquisi..readmore

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Oldendorff Carriers Secures Five-Year Coal-Shipping Deal in Bangladesh

Posted On: 04-03-2020

Germany-based dry bulk carrier owner and operator Oldendorff Carriers has signed a long-term coal transportation agreement (CTA) with the Bangladesh Chinese PowerCompany (BCPCL).Under the five-year deal,Oldendorff will provide a full transportation solution to BCPCL which includes coal transportation from Indonesia orAustralia with transshipment in Andaman&Nicobar to Payra power plan..readmore

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Singapore Arrests 11 Men for Illegal Transaction of Marine Fuel

Posted On: 04-03-2020

Singapore’s Police Coast Guard (PCG) has arrested eleven men, aged between 31 and 52, for their suspected involvement in an illegal transaction of marine gas oil (MGO).The joint operation with theMaritime and Port Authority of Singapore(MPA)was carried out on October 30, 2019. As informed, the PCG arrested six crew members of a craft belonging to a marine service provider and another five crewm..readmore

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Yang Ming to Charter Another 11,000 TEU Newbuild Quartet from Shoei Kisen

Posted On: 27-02-2020

Taiwanese shipping company Yang Ming Marine Transport Corp. has signed charter agreements with Japanese shipowner Shoei Kisen Kaisha, a subsidiary of Imabari Shipbuilding, for four 11,000 TEU containerships.The signing ceremony was held inHong Kong on April 10, 2019. The four boxships have been ordered by Shoei Kisen Kaisha at Imabari yard, according to data provided by Asiasis. As informed, theve..readmore

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Better Rates, New Ships Push Costamare’s Earnings Up

Posted On: 27-02-2020

Greek shipping company Costamare witnessed a surge in its earnings for the period ended September 30, 2019. The company’s net income jumped by 157% to USD 36million for the three months, compared to USD 14 million reported in the same period a year earlier. Voyage revenues were at USD 123.6 million in the quarter, up by 36% from USD 90.9 million seen in the previous year’s quarter. “As was t..readmore

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Yamal LNG: All 15 Arc7 Ice-Class Tankers Delivered

Posted On: 26-02-2020

OAO Yamal LNG has announced the operational start of Yakov Gakkel, a new Arc7 icebreaking LNG carrier. As informed, the 172,410 cbm newbuild loaded the 354th LNG cargo in the port of Sabetta bound to China. Named at Daewoo Shipbuilding MarineEngineering (DSME) in South Korea in late March this year,Yakov Gakkel is the fifteenth and final Arc7 ice-class tanker built specifically for the project. ..readmore

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World’s 1st Liquefied Hydrogen Carrier Named in Japan

Posted On: 26-02-2020

Japanese shipbuilder Kawasaki Heavy Industries has named Suiso Frontier, the world’s first liquefied hydrogen carrier, at its yard Kobe Works, the said. This vessel, owned by CO2-free Hydrogen Energy Supply-chain Technology Research Association (HySTRA), is designed to transport large quantities of liquefied hydrogen at 1/800 of its gas-state volume, cooled to –253°C, over long distances by..readmore

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GMP Wins 34-Year Concession for Le Havre Container Terminal

Posted On: 24-02-2020

France’s Port of Le Havre supervisory board has decided to grant Générale de Manutention Portuaire (GMP) a concession contract for the and operation of the container terminal for the Port 2000 berths 11 and 12. Port handling company GMP is a joint venture between Dubai-based port operator DP World and Terminal Link, a subsidiary of French shipping major CMA CGM. Under the terms of this decisi..readmore

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Drewry: Indian Coal Imports Boost Panamax Rates

Posted On: 24-02-2020

Panamax rates have seen a significant surge in 2019, maritime research consultancy Drewry noted, pointing out that this could largely be attributed to the recent firmness in India’s coal imports. This situation is likely here to stay, according to Drewry’s lead dry bulk research analyst Rahul Sharan who added that the Indian government’s plan to invest heavily in infrastructure will underpin..readmore

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Global Ports Holding Commences Operations at Antigua Cruise Port

Posted On: 18-02-2020

Cruise port operator Global Ports Holding (GPH) is set to begin cruise port operations in Antigua following the signing of a concession agreement with the state government earlier this year. In February, GPH agreed the 30-year concession for cruise port operations in Antigua on an exclusive basis.“The addition of cruise port operations in Antigua and Bahamas to GPH’s portfolio augurs well f..readmore

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Norden Creates Targeted Decarbonization Role

Posted On: 18-02-2020

Danish shipping company Dampskibsselskabet Norden A/S revealed plans to further intensify its efforts to drive the shipping industry towards a cleaner future and offer CO2 neutral transportation. Namely, the company has established a new, dedicated decarbonization position to drive Norden’s decarbonization efforts and meet the company ambitious emission reduction targets. The new role will accel..readmore

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Danish Maritime Fair 2020 is opening in 3 months

Posted On: 17-02-2020

Now there are only 3 months until BellaCenter opens its doors tor the fifth edition of the international fair, Danish Maritime Fair. The fair, that takes place on the 13 th . and 14 th . of May, will give visitors the chance of visiting both Danish and foreign maritime companies, authorities and organizations. You will also have access to a great number of maritime me..readmore

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Scorpio Bulkers in Sale and Leaseback with Ocean Yield for Ship Trio

Posted On: 14-02-2020

Monaco-based dry bulk shipping company Scorpio Bulkers has decided to sell and leaseback one Kamsarmax and two Ultramax vessels to Norwegian shipowner Ocean Yield. The ships in question are SBI Cronos, SBI and SBI Lynx, built in 2015, 2016 and 2018,respectively. As informed, the ship trio will be acquired by Ocean Yield for USD 62.8 million net of pre-paid charter hire with nine, ten and twelve y..readmore

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OOCL Rauma Loses Containers off Dutch Coast

Posted On: 14-02-2020

Cruise port operator Global Ports Holding (GPH) is set to begin cruise port operations in Antigua following the signing of a concession agreement with the state government earlier this year. In February, GPH agreed the 30-year concession for cruise port operations in Antigua on an exclusive basis. The addition of cruise port operations in Antigua and Bahamas to GPHportfolio augurs well for the fut..readmore

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Diana Secures Work for Newcastlemax

Posted On: 14-02-2020

Greek shipowner Diana Shipping has entered into a time charter contract with BHP Billiton Freight Singapore for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia. The gross charter rate is USD 14,500 per day for a period of minimum fourteen to maximum sevent months. The charter commenced on February 5, 2020. Previously, the 206,040 dwt bulker worked for Koch Shipping at a higher chart..readmore

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Euronav Buys VLCC Resale Trio

Posted On: 14-02-2020

Belgium’s tanker shipping company Euronav NV has entered into an agreement for the acquisition via resale of three very large crude carrier (VLCC) newbuilds. The three ships are currently completing construction at the Daewoo Shipbuilding Marine Engineering (DSME) shipyard in South Korea. As informed, the trio is being acquired for an aggregate purchase price of USD 280.5 million or USD 93.5 m..readmore

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MSC Cruises’ LNG-Powered Newbuilds to Feature Wärtsilä Equipment

Posted On: 21-01-2020

Finnish technology group Wärtsilä will supply French shipbuilder Chantiers del‘Atlantique with a comprehensive package of integrated solutions for MSC Cruises’ two new LNG-powered ships. As explained, the solutions “will support and enhance the efficiency and environmental sustainability” of the World-class cruise vessels. In October 2019, the steel cutting ceremony was held for th..readmore


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